Enterprise mobility company RapidValue has raised Rs 25 crore from Helion Venture Partners, reports The Economic Times. Following the investment Rahul Chandra, a managing director at Helion, will join the board of the company. The company use the fund to expand its operations in US and Europe.
The company told TechCircle that it has more than 50 customers and has delivered 350 mobility projects since its inception. RapidValue’s clients include ValleyCrest, University of Phoenix, Karmaloop, Singclair Broadcast Group, MedAmerica, Du, IMDsoft, Linkwell Health, Home Depot, HCPlive, Times Group and Naukri.com.
We had also received an anonymous tip-off that the company had raised Rs 4 crore in that round, with most of it by Lightspeed. However, when we contacted Oravel CEO Ritesh Agarwal for a confirmation yesterday, he had declined to comment on how much each investor has contributed. He added that the funding was from two institutional investors and that there is no change in the company’s management structure. The company has also relaunched OYO Hotels as OYO Rooms.
Oravel was going through some operational issues in March and OYO Hotels were the only ones available on Oravel. Agarwal said that the company is still hiring people and all their operational issues should be sorted within a couple of weeks.
Massachusetts Institute of Technology has launched Global Startup Labs for 2014 in India, reports Business Standard. It has also invited individuals and teams with ideas to apply for this year’s batch.
This year, MIT has partnered Kyron, an accelerator and a venture capital firm, to offer a product development workshop. The technical and business curriculum will be taught by alumni and present student instructors from MIT’s business and engineering schools.